2.4 Minimum shareholding requirement

The members of the Board of Directors are required to maintain a minimum shareholding equivalent to their annual director’s fee (base fee plus functional allowances). The required shareholding is generally built up within four years from the start of their term or assumption of a new role through remuneration paid in shares and, if necessary, share purchases on the market, taking internal and legal trading restrictions into consideration. The Compensation Committee reviews compliance with the shareholding requirement annually. Any member whose shareholding falls below the minimum due to a drop in the share price is required to make up the difference by the next review. In justified cases, such as personal hardship or legal obligations, the Chair of the Board of Directors may approve individual exceptions.